Bank of New York Mellon Corp Has $31.60 Million Stake in CVB Financial Corp. (NASDAQ:CVBF)

Bank of New York Mellon Corp reduced its stake in CVB Financial Corp. (NASDAQ:CVBF) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,475,867 shares of the financial services provider’s stock after selling 34,958 shares during the period. Bank of New York Mellon Corp owned 1.06% of CVB Financial worth $31,598,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. KBC Group NV increased its position in shares of CVB Financial by 35.0% during the fourth quarter. KBC Group NV now owns 6,005 shares of the financial services provider’s stock worth $129,000 after acquiring an additional 1,556 shares in the last quarter. Blue Trust Inc. increased its position in shares of CVB Financial by 17.7% during the fourth quarter. Blue Trust Inc. now owns 6,108 shares of the financial services provider’s stock worth $131,000 after acquiring an additional 918 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of CVB Financial during the fourth quarter worth about $206,000. Savant Capital LLC bought a new stake in shares of CVB Financial during the fourth quarter worth about $221,000. Finally, LMR Partners LLP bought a new stake in shares of CVB Financial during the third quarter worth about $215,000. 74.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CVBF has been the subject of several recent research reports. Keefe, Bruyette & Woods boosted their target price on shares of CVB Financial from $23.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Stephens dropped their target price on shares of CVB Financial from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, CVB Financial currently has an average rating of “Hold” and an average target price of $22.20.

CVB Financial Stock Up 0.4 %

CVBF opened at $19.44 on Friday. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of 13.50 and a beta of 0.46. CVB Financial Corp. has a twelve month low of $15.71 and a twelve month high of $24.58. The company’s 50-day moving average price is $20.44 and its two-hundred day moving average price is $20.24.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. CVB Financial had a net margin of 29.32% and a return on equity of 9.35%. As a group, sell-side analysts anticipate that CVB Financial Corp. will post 1.41 earnings per share for the current year.

CVB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date of this dividend was Tuesday, December 31st. CVB Financial’s payout ratio is currently 55.56%.

CVB Financial Company Profile

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank, a state-chartered bank that provides banking and financial services to small to mid-sized businesses and individuals. It offers checking, savings, money market, and time certificates of deposit products for business and personal accounts; and serves as a federal tax depository for business customers.